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Board reviews Aon Hewitt presentation and approves 2016 premiums, hears reserve and rate projections
Summary
Aon Hewitt presented administrative fees, IBNR and contingency reserves, and preliminary 2016 rates; the Board voted to accept recommended premiums and discussed a $22 million IBNR for Blue Shield claims and a $25 million stabilization carry‑forward to be amortized over three years.
Aon Hewitt presented detailed recommendations on administrative fees and preliminary 2016 premium levels, along with reserve positions and claims‑trend analyses. The firm reported administrative fees for active members and early retirees at $39.54 and a Medicare‑integrated administrative component at $24.17; staff said a 3% accrual and new value‑based pricing mechanics account for some increases. Aon Hewitt also…
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